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20121101
20121130
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KTVU (FOX) 21
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's start with the good old u.s. of a, and cliffs and bluffs. what is the market telling you about the so-called fiscal cliff? will we see a resolution? > > there is some uncertainty that's going on, because what we're seeing, with everybody so concerned, you would think that the u.s. dollar in particular would be pulling back. we are seeing the dollar up in the mid-81 range, and it looks like it is going to continue to run. also, another thing that we are looking at is the indices. they are pulling back down, and i think we still have some more room for them to pull on down. > > what about the eurozone going into yet another recession? what is the fallout? > > wow. we haven't seen the fallout in the euro dollar yet. in yesterday's market, it stayed in the $1.27 range, which really caught a lot of people by surprise, especially with the dollar gaining a little bit. > > tensions are rising in the middle east. will that rattle the oil market? > > we're seeing brent crude is running up, yet the wti crude here in the united states has been pulling down - it's been staying in the mid-$80s. nor
part of the gold trade, too, is perhaps on a stronger u.s. dollar, and that of course could be a vote on perhaps a romney victory later on tonight. > > good to have you on the show today. that's john brady of rj o'brien. in battleground states such as ohio, hundreds of lawyers have shown up to monitor polls on election day. in our cover story, it's one of many pre- emptive steps being taken to avert a recount that, in ohio's case, could take weeks and delay the election's outcome. while former governor romney and president obama criss- crossed the country in last- minute campaign efforts, more than 200 lawyers from the non- partisan "election protection" group spread out across states such as ohio to make sure potential voters were not discriminated against or intimidated. legal challenges that could delay the outcome for weeks are the last things investors say they want. "the worst thing for business is uncertainty, and that's what's affecting the market now." already there have been two dozen lawsuits within the past six months challening photo i.d. requirments and limited poll hour
the company topped revenue expectations. u.s. airways, a major carrier to the east coast, rallied more than 2%. shares of generator maker genrac ramped up 20% to an all-time high and continued to ade higher in the after hour session. generac also revealed revenues increased 26% in the third quarter. home depot and lowes both rallied after customers on the east coast stocked up on home repair products, while most insurance stocks sold off. the u.s. is quickly approaching its debt limit. that's according to the treasury department, which said this week that the u.s. will hit its debt limit of $16.4 trillion by the end of the year. the treasury has granted congress more time to come to an agreement over the debt - until early next year. the government is already under pressure to avoid the year-end fiscal cliff. last year's debt negotiations in congress resulted in a decision to raise the debt ceiling, along with a lowered credit rating from standard and poors. u.s. automakers are setting a new pace to deal with a slowdown in europe. ford and gm reported better-than-expected profits this week as
, it was more of a repatriation back to the dollar, selling some of the risk currencies. it pushed the u.s. dollar index up. we saw gold prices start to trend lower. they broke through $1,700. it seemed like the liquidation continued to expand at a faster and quicker rate, and we pushed all the way down quite deep. we're right around the 200-day moving average now. > > oil had a dramatic sell-off as well. > > that's another. that's more, i think, of the hurricane factor. the issue with that is you had a lot of refineries that were shut down at the moment, and we had a lot of products just standing aside. we're starting to see oil start to move through the system, and what's happening is, they're really going to ramp up that inflow into the refineries, and you're going to see most likely a build next week from the department of energy. > > and i'm very impressed that you will be leaving the trading floor in chicago on election day to go to indiana to cast your vote. good for you phillip. > > thank you. today marks the final day of campaigning for president obama and gop presidential candida
, falling to its lowest level since july, mostly due to uncertainty about the future of the u.s. and global economies. groupon shares fell 13% after the close on earnings news. revenues were up, but the coupon company had a net lost of nearly 3 million dollars. profits were up at disney thanks to espn and growth at theme parks. and priceline is set to buy online travel company kayak for $40 per share. how low will this market go? ben lichtenstein of tradersaudio.com joins us. good morning to you. happy friday. but is this a buying opportunity here? > > i don't think so. i think basically if you try and step up right now, you're kind of trying to play "catch the knife" if you will. there has been a lot of energy to the downside. it started wednesday. we saw a continuation of that yesterday. basically closed 'em out on the lows. everything across the board literally looks weak right now. the one thing that's been just kind of crazy and doesn't really fit in with all of this is that the dollar has been sideways, right around 81 even, and that the volatility index is still holding right around
are coming in better than expected. the u.s. agriculture department reports the soy bean crop recovered from the dry summer with a rainy fall. the ag department raised its forecast on corn production even though yields from heat-scorched crops remain at the lowest level since 2006. friday's crop report triggered across-the-board selling in the grain market, which eventually could trickle down to prices at the store. "it should stablize for feed ingredients, for example. that will help people going forward. meanwhile, cotton yields are up 12% from last year. a kink in apple's supply chain is putting pressure on foxconn. foxconn's chief executive admits having a hard time meeting the huge demand of apple's latest products such as the iphone 5 because of the complexity of manufacturing the new items. it's shedding some light on the manufacturing process, according to michael manna, host of the tech talk show "t4 show." "these are becoming more complex devices. they're changing the screws up, they're changing the manufacturing methods, so just when you're used to the iphone 4 and the 4s they thr
the u.s. economy is growing at a steady pace. hiring increased in many areas. manufacturing slowed in some sections of the u.s., and hurricane sandy hampered northeast economic growth. information compilied in the fed's beige book will be considered at the fed's next meeting december 11 & 12. the dollar figure on damage caused by superstorm sandy continues to climb. new jersey governor chris christie is asking the federal government to cover nearly $37 billion in damages. fema has already handed out more $500 million in assistance. yesterday, new york governor andrew cuomo pegged sandy damage at $32 billion in his state. insurance giant allstate predicts it will lose 1 billion dollars in catastrophe costs in october, mostly due to sandy. bp is getting a slap on the wrist from the government. the enviornmental protection agency will temporarily suspend the company from opening new contracts. following the 2010 deepwater horizon spill, the epa says bp acted with a "lack of business integrity." it will not impact bp's current contracts. earlier this month, bp pled guilty to charges c
investing opportunities for next year, the u.s. ranked number 1 for the 8th quarter in a row. china came in second, and europe was considered the worst for returns. for those holding out hope for a second life for twinkies, ho- hos and ding-dongs, there's encouraging news. hostess says it is in talks with more than 100 interested buyers. at the same time, hostess is seeking approval in banruptcy court to pay its top executives $1.8 billion in bonuses to retain them during the year-long wind- down process. union reps are asking the judge to bring in an independent group to oversee that process. citigroup is doing some trimming this holiday season. according to reports, the big bank plans to cut 150 jobs and shrink bonuses by up to 10%. the layoffs will affect people working on the trading and investment side of citigroup. sources say people who are top performers won't be affected. several wall street firms have fired employees in cost-cutting moves to deal with new rules meant to prevent another financial crisis. some coffee fans may call starbucks, "sevenbucks." that's how much it'll co
to rally. we will see a big sell- off in the vix, and we should see a sell-off in the u.s. dollar as well. > > what do you think about gold and oil here? yesterday they both ramped up. > > we saw both buying ahead of an obama victory. there is a strong belief that gold could make an end-of-year run through its all-time highs toward that $2,000 level. oil is a little more demand-centric, so expect it to test $90, maybe $95 in wti, but i doubt it's going to be testing new highs toward the end of the year. > > as you know, consumer confidence is up. we have retailers reporting earnings this week. is this a time to buy retail stocks? > > i think you have to be smart about which ones you buy. i think the big domestic department stores, there are winners and losers, and then in the individual lines there are winners and losers. lululemon continues to outperform. gap continues to underperform. you have to be smart about who you by and for what price. > > mark sebastian of option pit mentoring. thanks for being on the show today. > > thank you. moments after networks announced that the preside
controlling 16% of u.s. consumer electronics sales, the chain has seen shares fall 35% so far this year and posted a $1.2 billion net loss in its latest fiscal year. a busy week is ahead in washington as democrats and republicans face that looming fiscal cliff. today at the white house, president obama meets with the leaders of labor and progressive groups. wednesday he's invited top business leaders over for talks. reports say the ceos of ge, honeywell, walmart, ibm and more will be there. the president then meets with congressional leaders friday to address the cliff. "i intend to work with both parties. i said over and over again on the campaign trail, we can't cut our way to recovery, we have to ask the wealthiest americans to pay more." "instead of raising tax rates on the american people and accepting the damage it will do to our economy, let's start to actually solve the problem. "let's focus on tax reform that closes special interest loopholes and lowers tax rates." without an agreement between lawmakers, $600 billion in automatic spending cuts plus tax hikes affecting all amer
greece will get another bailout, and the u.s. budget. the governor of new york places the cost of hurricane sandy at $42 billion in damages and losses. and all bets are off at intrade.com. the website can no longer allow u.s. residents to place financial bets on the prediction markets. intrade correctly predicted president obama would be re-elected and that the u.s. is not likely to fall off the fiscal cliff. there are lots of rumblings coming out of washington. let's turn to scott bauer of trading advantage to talk about this alleged fiscal cliff. what do you think - and good morning - deal or no deal, scott? > > good morning angie. yeah, there is going to be a deal. it may not be later this week, it may not be next week, but i think at a minimum we are going to see congress, the president, everyone say, you know what, we are on the table together here, and even if we have to extend this three months, six months, we are going to get it done. there is no way with the recovery that we have seen - and i'm not talking about the stock market recovery, i am talking more of the consu
met. superstorm sandy failed to knock down car sales. u.s. automakers are riding high following a selling spree in october. chrysler sales jumped 10%. gm posted its highest october sales since 2007, with deliveries up 5%. ford sales inched up just .4%. the company reports truck sales stalled slightly while car sales, especially for fuel-efficient models, picked up. ford's ceo, alan mulally, told reporters yesterday he intends to stay on until 2014. mark fields companies turnaround will soon bump up to coo. in overseas action, toyota sales bounced 16% higher, while volkswagon's were up 22%, making it the best october since 1972. meanwhile, small businesses are still reeling from the effects of superstorm sandy. sandy shut down and damaged many businesses in its trail. now a lifeline for business owners could come in the form of disaster assistance. chris hurn of mercantile capital says for small business owners affected by the storm, loans could be a chance to reboot business. "one of the things that is going to come out of a life- altering event like this is a lot of them are
the last week there has been a lot of talk about oversupply, u.s. production levels quite high. but yesterday we saw a precision air strike from israel on a hamas chief-of-staff leader, and what that did was it raised that bar again about the geopolitical risk with crude-oil, and we saw this big reversal to the upside. > > there is yet another call for gold to go to $2,000 an ounce. what do you think about that? > > i definitely think so. the issue that we're having here is safety, and there's not enough of it to be spread around. we're seeing almost no yield in treasuries. we saw a german note auction that provided a negative yield. the dollar index isn't much safer than the euro currency. so gold seems to be a hard asset and a place that traders may want to be. > > good to have you on the show this morning. have a good trading day phillip. > > thank you. president obama has set the pace for tomorrow's meeting with congressional leaders. in a news conference yesterday the president reiterated the need to raise taxes on the wealthy while continuing tax breaks for the middle cla
are because of stress or boredom. a new study reveals surprising data about bank fees. according to the u.s. public interest research group u.s. pirg, 6 out of 10 small banks offer free checking services, while only a quarter of big banks offer the service for no charge. the study also found smaller banks have lower checking and overdraft fees. however, the data shows most banks big and small neglect to provide detailed fee information to customers. plenty of americans will be doing their holiday shopping at retailers that are popular with wall street and with main street. america's most successful store, not too surprising, is apple, by a wide margin, followed by: 2. tiffany & co. 3. lululemon athletica 4. coach 5. michael kors 6. select comfort 7. true religion 8. vera bradley and, 9. birks & mayors in the ipo market this week, paper company boise cascade hopes to raise up to $200 million in its ipo. the public offering may have traders watching office max. shares of office max spiked 27% on friday due to the large stake it holds in boise cascade. meanwhile, wi-fi company ruckus wireless
private employer in the u.s. with nearly a million-and-a-half workers, calls union involvement in the anticipated strikes unlawful and is busy preparing for black friday and its post- black friday technology and toy sales saturday. a sweet ending may be in the works for hostess. potential buyers are stepping forward, plus a bankruptcy judge was able to get hostess, the lenders and the union to agree to mediation to avert liquidation of the snack food company. twinkie sales have never been hotter. we found a box of 10 twinkies going for $20 and more on ebay. hostess goodies became a hot commodity after the company shutout workers last week and went to court monday to liquidate, leaving 18,000 employees stunned that hostess could give up its iconic treats. "twinkies, it's a legend, the history is very long." "in bankrupcty there is great power on behalf of the bankrupty judge." the bankruptcy judge hearing the hostess case was able to convince the company to try mediation with the union. the arm of the department of justice that oversees bankruptcy cases is also slowing the host
." across the u.s., non-profits need to expand their base of supporters. since 2006, the number of new doners giving to non-profits nationwide has dropped 14.6%, and there are fewer doners in general - down 5.3%. pritzker's strategy to pull together groups involves partnering with other non- profits on projects to meet a common goal. it's worked for other non-profits. now, it's pritzker's turn. "i think that as people realize that the funding pool is shared and donors are saying more and more, why don't you work together, i think it will become more evident." not all nonprofits are lucky enough to have a wealthy benefactor at the helm. non- profits having the toughest time in 2012 include animal welfare groups, health groups and international relief efforts. gold is a costly commodity that's valued everywhere but has particular cultural significance on the subcontinent of india. paul eggers files this story on the precious metal. while the sights outside this shop may seem foreign and the sign up top definitely is in another language, the merchandise inside, gold, is familiar to most e
websites in the u.s. and europe were shut down after allegedly selling counterfeit goods such as jerseys, software and nike shoes. it is the third year in a row websites have been seized for illegal activity on the popular online shopping day. more sites are likely to be shut down as the investigation continues. sac capital is holding a special investor call this morning. the firm is under the microscope in the wake of what the sec calls the largest insider trading case it has pursued. charges have been levelled against former sac employee mathew martoma. a call like this is considered unusal, but is not unprecendented. it is not clear if founder steven cohn will be on the line, but management will field questions about the sec's case. the call is scheduled ahead of the market open. there are laws against discrimination by employers, but what about mid-level managers who don't hire and fire but can make an employee's work day miserable because of race, religion, sex or age? in our cover story, the supreme court is weighing that in vance v. ball state, a ruling that could bring mistreatm
. stick with the winners, stick with large-cap u.s. growth. > > go with america is your theme. > > absolutely, because i think the world is really going to be watching these election results, and what typically happens is americans get behind each other together and move forward, and i think we're going to get to a really strong finish for the year. > > that's a very positive thought. i think i'll leave you right there. that's matt shapiro, president of mws capital. thank you matt. some women tend to be more charitable than men. an indiana university report on philanthropy shows baby boomer generation women and older donate more money more frequently to charity than men. analysis found that men tend to think about donating to non- profits as a "financial transaction," while women enjoy the benefits of a relationship with a non-profit organization. the number of americans living paycheck-to-paycheck is starting to show signs of improvement. according to a survey by careerbuilder, 40% of workers report always or usually living paycheck-to-paycheck, versus 42% in 2011. the percen
. with what we've seen over the past week and some of the concerns out of both the u.s. and europe, the vix right around the 16 level is kind of complacency as well, which, from a contrarian standpoint, gives me a little bit of pause, but also the fact that we had this nice sell-off. remember, cliffs are meant for lemmings to go over, and i think it's time to start making a laundry list of stocks. i kind of like the combination of yield and a little bit of growth - coca-colas of the world paying about a 3% yield, procter and gamble, even apple is about 2% here, all paying well more than the 10-year. so at some point i think you'll see a rotation out of fixed-income into stocks that pay a decent dividend. > > larry, other than premium, where are you putting your money? > > right now the commodities sector. we have had a mini risk-off mode the last couple of months. people were worried about the debt, worried about the fiscal cliff, and we've seen commodities go lower and lower. i like to look at oil, copper, gold, everything out there right now is under-priced, probably a good place to put y
to the workplace." recently overseas, in places where the u.s. military has been a presence, members of the national guard and reserve have played a significant role. just one example - since 2003, roughly 3/4 of the men and women in illinois' national guard or reserve were mobilized throughout the world. h-r plus is a company that puts its money where its mouth is concerning this issue. 40% of the roughly 8,000 employees it hires a year are veterans. still to come, how to pitch your ideas to angel investors. what investors want to hear before they reach for their checkbook. but first, traders tell us which soda stock is more likely to see a pop. that's next, in traders unplugged. the holidays are on our traders' minds today. joining for us for traders unplugged, pro traders alan knuckman and jared levy. round one: taking flight. millions of americans are boarding jets this season for the holidays. which airline stock is ready for lift-off? > > i look at this in a couple of different ways. i have never liked airline stocks because it's- > > tough sector. > > you have a tough sector,
interested in buying the beleaguered baker. while americans may be sweating out whether the u.s. is heading for a fall off the so-called fiscal cliff, traders are pricing in the odds of whether it will happen. alan knuckman of option-shop joins us this morning from cme group. good morning alan. > > good morning angie. > > weeks before the election, although we questioned it, traders were confidentely telling us the president would be re-elected. it happened. so how do the odds look for a recession in 2013? > > the markets tell us a lot. when we were looking at the election, we were looking at a prediction market that had a lot of volume. volume is the key to price discovery because of all the buyers and sellers. when we are looking at the fiscal cliff numbers, they are not as clear, because there is not as many traders to get that information from. > > ben bernanke was in new york yesterday, and he is urging lawmakers to strike a deal on the fiscal cliff sooner rather than later. should we be concerned? because it sounds like the fed is worried. > > we are always concerned. if you look at i
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